According to the Labor Supply and Demand Model

question 172

Multiple Choice

According to the labor supply and demand model,

• A)higher minimum wages have no effect on unemployment for young people with low skills.
• B)higher minimum wages will reduce unemployment among young people with low skills.
• C)minimum wages should not differ across countries.
• D)the higher the market wage is relative to the minimum wage, the higher the unemployment rate is among young people with low skills.
• E)the lower the market wage is relative to the minimum wage, the higher the unemployment wage is among young people.

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Definitions:

External Force

Influences originating outside an individual or system that can affect behaviors, decisions, or change trajectories.

Conscientious

A personality trait characterized by being diligent, careful, meticulous, and responsible.

Perfection

The state or condition of being free from any flaws or defects.

Burnout

A condition of emotional, mental, and physical exhaustion in response to long-term job stressors.